CRA Discloses $1.8M Q4 Restructuring Charge (CRAI)
December 27, 2010 5:15 PM
In a Form 8-K/A for CRA INTERNATIONAL, INC. (NASDAQ: CRAI), CRA International disclosed Costs Associated with Exit or Disposal Activities. In Item 2.05 "Costs Associated with Exit or Disposal
Activities," CRA International notes:
On September 30, 2010, we filed the Original 8-K announcing that our management adopted a proposal to make consulting headcount adjustments to select practices. These actions were designed to reduce costs and improve our profitability. At the time of filing of the Original 8-K, we had not completed our assessment of all of the costs of such actions, nor had we determined the associated cash expenditures from such actions.
These actions are now complete. These actions will result in a fourth quarter pre-tax restructuring charge of approximately $1.8 million, consisting of approximately $1.7 million of employee separation and other compensation costs and approximately $0.1 million of costs for office space reductions. Approximately $1.7 million of the total charge of $1.8 million will result in cash expenditures by us.
